Deals

Analysts for Citigroup wrote in a research note they believe there’s a 40% chance Apple will buy Netflix with the money it repatriates following the passage of corporate tax reform.

Apple could potentially repatriate hundreds of billions of dollars, giving it plenty of wiggle room for a major acquisition like Netflix.

The analysts, Jim Suva and Asiya Merchant, noted that Apple has been making aggressive plays in the streaming video space, hiring former TV executives and ordering original programming.

“Historically, Apple has avoided repatriating cash to the U.S. to avoid high taxation,” the note said. “As such, tax reform may allow Apple to put this cash to use. With over 90% of its cash sitting overseas, a one-time 10% repatriation tax would give Apple $220 billion for M&A or buybacks.”

Around 60% of suppliers to the UK’s event industry are facing collapse within three months unless event businesses receive further support from the government. Of those businesses, 6% said they are unlikely to make it to the end of April.